Kazera Global settles Fujax debt, suspends trading for fundraise

London - Kazera Global plc has reached an agreement with Fujax South Africa to settle outstanding debt of around $1.32 million. The agreement involves issuing $500,000 worth of shares and $500,000 in cash payments. The cash is paid in five installments of $60,000, starting in October, with a final payment of $200,000 by March 2027.

The shares will be issued at a specific price and for a limited period. Kazera is considering raising at least £500,000 through a shareholder vote on September 21. Trading in the company's shares is temporarily suspended as part of the fundraising effort. This resolves a liability from past management, and the announcement follows the acquisition of a mining right. Approval of the fundraising is not guaranteed, and the final terms are still being determined.